DislikedWhy was your stop loss so far away? Your risk reward wasn't good. Surely, a sl below the previous swing low would be enough to tell you that the conditions of the trade had changed and were no longer in your favour.Ignored
- #102
- Nov 28, 2009 11:34am Nov 28, 2009 11:34am
- Joined Mar 2009 | Status: I know that I know nothing | 2,780 Posts
- #112
- Nov 29, 2009 2:06pm Nov 29, 2009 2:06pm
- Joined Jan 2008 | Status: I'll Take Your Pips | 1,338 Posts
fatmirm,
if you look at the upper right corner of the screen, just to the right of where it shows how many pages are in this thread and click on the paper clip icon, scroll down the list of attachments until you get to the files you want to save. You will be able to download them there.
Also re: the 21 sma's, Madness posted what there settings are on the first page of the thread. You'll see them there
HTH
if you look at the upper right corner of the screen, just to the right of where it shows how many pages are in this thread and click on the paper clip icon, scroll down the list of attachments until you get to the files you want to save. You will be able to download them there.
Also re: the 21 sma's, Madness posted what there settings are on the first page of the thread. You'll see them there
HTH
- #118
- Nov 30, 2009 2:27am Nov 30, 2009 2:27am
- | Joined Oct 2008 | Status: Learning | 1,057 Posts
What you do is a reflection of you....what I do is a reflection of me.
- #119
- Nov 30, 2009 9:10am Nov 30, 2009 9:10am
Small Lesson: Trade what you see!
Great to hear from everyone! Glad that my thread is getting the blood pumping!
Well the thing is with my strategy, its not 100% mechanical (more like 75%). Meaning, there is no set stop or always a set take profit, in pips. This is more of a real world trading strategy (which is what most pros trade). I trade when the deck is hot or is exhausted! only bc it gives me the edge while i trade! This strategy is set to not pick tops and bottoms but to trade what the market shows us, which is a very very tough thing to do. but possible.
What i am getting to, is that this strategy works great in both ranging and trending markets and if you are disciplined and follow the rules you can make a boat load of pips. But you only get pips if the market is acting properly. I trade the market, not the strategy! Whatever the market gives me as profit is what i take, not like most others here who are looking to be like, 'my take profit is +25 pips and stop loss is for a -10.' Not me, i trade the system and whatever the market gives me i take, even if it is just a +1 trade.
Those who have been looking at previous charts and have come up with a 'magic TP & SL (customized to better risk reward, most likely)' , will be nothing more than a break even trader at best. I do not look for risk reward on my trades, i look for the best possible trade that the market is setting up for me. Now do not get me wrong, money management on the other hand is very very very very important. I do not risk more than 5% of my trading capital each day (max), which is still a bit high.
But the main lesson here is: TRADE WHAT THE MARKET GIVES YOU! Do not force trades...think logically and leave emotion out!
i will be looking over posts from the weekend and i will be answering them shortly. Just wanted to write this post.
MADNESSS
Great to hear from everyone! Glad that my thread is getting the blood pumping!
Well the thing is with my strategy, its not 100% mechanical (more like 75%). Meaning, there is no set stop or always a set take profit, in pips. This is more of a real world trading strategy (which is what most pros trade). I trade when the deck is hot or is exhausted! only bc it gives me the edge while i trade! This strategy is set to not pick tops and bottoms but to trade what the market shows us, which is a very very tough thing to do. but possible.
What i am getting to, is that this strategy works great in both ranging and trending markets and if you are disciplined and follow the rules you can make a boat load of pips. But you only get pips if the market is acting properly. I trade the market, not the strategy! Whatever the market gives me as profit is what i take, not like most others here who are looking to be like, 'my take profit is +25 pips and stop loss is for a -10.' Not me, i trade the system and whatever the market gives me i take, even if it is just a +1 trade.
Those who have been looking at previous charts and have come up with a 'magic TP & SL (customized to better risk reward, most likely)' , will be nothing more than a break even trader at best. I do not look for risk reward on my trades, i look for the best possible trade that the market is setting up for me. Now do not get me wrong, money management on the other hand is very very very very important. I do not risk more than 5% of my trading capital each day (max), which is still a bit high.
But the main lesson here is: TRADE WHAT THE MARKET GIVES YOU! Do not force trades...think logically and leave emotion out!
i will be looking over posts from the weekend and i will be answering them shortly. Just wanted to write this post.
MADNESSS